Gaithersburg, MD-based Novavax, Inc. (Nasdaq:NVAX) is a clinical-stage biotechnology company that develops prducts, including vaccines, to prevent a broad range of infectious diseases. The company utilizes recombinant nanoparticles and Matrix-M™ adjuvant technology. Their product pipeline targets a variety of infectious diseases, with clinical vaccine candidates for respiratory syncytial virus (RSV) and Ebola virus (EBOV), and preclinical programs for Zika virus (ZIKV), seasonal influenza and a combination respiratory vaccine candidate, as well as other infectious disease vaccine candidates.

Novavax Financials

Research and development expenses decreased 40% to $39.3 million in the second quarter of 2017, compared to $64.9 million for the same period in 2016. The decrease was primarily due to reduced costs associated with the clinical trials and development activities of Novavax’s RSV F Vaccine and lower employee-related costs.

SG&A expenses decreased 37% to $8.9 million in Q2 2017, compared to $14.1 million for the same period in 2016. The decrease was primarily due to lower professional fees for pre-commercialization activities and lower employee-related costs.

Novavax stock has been a poor performer. YTD, Novavax shares have been down over 21% and are down over 86% for the year. Per share losses have been expanding ever since 2012 when Novavax posted a per share loss of (-$0.22). By 2016 that loss had broadened to (-$1.03). Likewise, dilution has been a real issue for stockholders. The number of outstanding shares has more than doubled since 2012 when the number was posted at 131.73 million. By 2016 that number was over 270 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

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